The national average total closing costs for a purchase mortgage transaction were $4,661. This amount consists of a national average of 1.06% of the home sales price.
For this special episode of the Full Disclosure podcast, Jim and Alayna are returning to their Lending Leaders roots and welcoming an exciting guest, Brian Vieaux, CMB, the new president of MISMO. Together they discuss the future of mortgage industry standards and how rapidly AI is changing the game.
Welcome back to the Summer Session of LodeStar’s Lending Leaders! This week, Jim gives an insider’s view on closing on his home purchase.
LodeStar is among the 5000 fastest growing private companies of 2022. Not just in the mortgage and real estate industry, but in the entire national economy. We’ve just been named to the Inc. 5000!
It’s rare that we see any type of progress—of any kind—happen in a consistent, linear fashion. That’s certainly the case with DEI efforts in our space. They’re happening. Progress is taking place.
Horace doesn’t want to talk about how the Fed raised rates.
It’s a poorly-kept secret that more than a few LOs still believe that it’s all about the rate, the rate and the rate—nothing more. And yet, somehow, the best LOs manage to produce in any market.
There are two factors that “traditionalist” employers in any industry—but especially a highly-traditional industry like ours—had better absorb quickly. First, almost half of the global workforce is thinking about quitting. Second, there’s no safety in homogeneity
The digitization of the mortgage loan process, although at times painfully slow, has come a long way. Especially in the past 10 years. And as that digital revolution has unfolded, we’ve seen a few distinctive phases.